Last week we were thrilled to host our latest Incubeta event ‘Privacy – Cutting Through the Noise’; an hour long session stripping away the technical jargon, and providing actionable takeaways to help tackle the world of privacy head-on.
Matilda Rose Moir
Incubeta DQ&A’s UK Managing Director James Sleaford was joined by US Managing Director AdTech & Measurement Solutions Zoe Hall and Director of Strategy Damien Bennett alongside our guest speaker Zach Faruque, Offerings Analyst at One Trust.
Championing Customer Centricity – Zoe Hall
Over the last year we’ve seen the privacy topic being pushed to the forefront of the industry alongside the assumption that it’s both a complex and technical issue. Yet the truth is that it’s neither of those things.
As marketers we live in a considerably fast paced and evolving landscape which requires agility and innovation to survive. Brands, agencies and publishers alike are constantly updating and analyzing their tactics – reshifting their internal processes to support the changes in our industry ecosystem. And this is no different when it comes to privacy initiatives.
Privacy is about consumer trust in businesses. Increases in user tracking and data breaches has escalated consumer concerns about the use of their personal information. And this concern is consistently reflected in the way that users communicate and behave across digital properties. That being said, many studies have proven that users are willing to share their data and see the benefit when exchanging information for a service. Which points to the main issues we’re facing; a lack of consent, transparency, and one-sided benefit.
We need to start thinking about, and address what changes in privacy mean for our industry. We should shy away from viewing privacy measures as adverse to performance or that they’re inversely incompatible. And while there’s no one-size-fits all approach, there are a multitude of prospective solutions being worked on as we speak to help create a safer, more transparent way of providing great experiences.
We need to become customer-centric, and the opportunity marketers and brands now have is to build on existing and new client relationships in a mutually transparent way.
Access the full session recording to see how you can champion customer centricity, drive business growth and navigate a privacy first world in a way that suits your brand.
We believe digital responsibility is critical to the success of all businesses. Improved data regulation is a much needed opportunity to reset and provide data solutions that are more effective for both consumers and companies
The Lay of the Land – Zach Faruque
Trust is a competitive differentiator for businesses today. One need only need take a look at Apple to understand this; within their plethora of products and services, privacy is their number one bestseller. Why? Because consumer expectations have changed and we’re all much more aware of our digital footprint, data and how our personal information is being used.
Where once price and quality were the main players, experience, engagement, trust and transparency are playing their part. And trust is at the forefront; driving the next decade of growth and differentiation with 70% of consumers saying that trusting a brand is more important today than ever before.
So, why should you have a first-party data strategy? Zach put this very simply and told a story. When virtually shopping for an engagement ring he (naturally) chose to decline all 3rd party cookies, search via incognito mode and use a VPN to avoid his girlfriend getting bombarded with ‘engagement ring’ sponsored ads – avoiding all sites that would, or could reuse his data and rendering himself un-trackable. Herein lies the problem; brands are so fixated on collecting as much data as possible, they’ve made their customers almost disincentivized in purchasing from them due to the way they process and handle personal data. As marketers we should be looking for the opportunity available in each and every avenue – viewing our strategy and approach in relation to our customer perspective.
To put it shortly, data is the problem. Advertising, marketing and sales activities all rely on personal data, and each and every one of these are controlled and regulated by some lawful basis. This can render us somewhat reliant on consent or legitimate interest, however, the overarching principle is the need for brands to be 100% transparent; how are we collecting data, and how are we using it? It goes without saying that transparent user experience goes hand in hand with willingness to share information – and this should be taken into consideration as your brand evolves.
Want to learn more, and hear the live Q&A session with our panelists? Click here to watch the full recording of Privacy – Cutting Through the Noise and find out which brands are nailing privacy, where you can go from here, and whether Zach aced the proposal and his girlfriend became the future Mrs Faruque…